Beazer Homes USA, Inc. (BZH) Sets New 52-Week High After Earnings Beat
Beazer Homes USA, Inc. (NYSE:BZH) shares hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $21.55 and last traded at $20.86, with a volume of 369000 shares changing hands. The stock had previously closed at $20.52.
The construction company reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.46. Beazer Homes USA had a negative net margin of 0.14% and a positive return on equity of 3.01%. The firm had revenue of $673.00 million for the quarter, compared to the consensus estimate of $645.17 million. During the same period last year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis.
BZH has been the subject of a number of analyst reports. ValuEngine cut shares of Beazer Homes USA from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. J P Morgan Chase & Co raised shares of Beazer Homes USA from a “neutral” rating to an “overweight” rating and increased their target price for the company from $14.50 to $21.00 in a research report on Thursday, September 14th. BidaskClub raised shares of Beazer Homes USA from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Beazer Homes USA from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, August 3rd. Finally, Wedbush cut shares of Beazer Homes USA from an “outperform” rating to a “neutral” rating and set a $15.00 target price for the company. in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.50.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Beazer Homes USA in the third quarter worth $149,000. Bayesian Capital Management LP purchased a new position in shares of Beazer Homes USA in the second quarter worth $190,000. Neuberger Berman Group LLC raised its holdings in shares of Beazer Homes USA by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 14,655 shares of the construction company’s stock worth $201,000 after buying an additional 118 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of Beazer Homes USA in the second quarter worth $215,000. Finally, Voya Investment Management LLC raised its holdings in shares of Beazer Homes USA by 13.0% in the second quarter. Voya Investment Management LLC now owns 17,040 shares of the construction company’s stock worth $234,000 after buying an additional 1,963 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $724.05, a price-to-earnings ratio of 34.20 and a beta of 2.73. The company has a debt-to-equity ratio of 2.06, a current ratio of 15.72 and a quick ratio of 1.85.
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Beazer Homes USA Company Profile
Beazer Homes USA, Inc is a geographically diversified homebuilder. As of September 30, 2016, the Company had operations in 13 states within over three geographic regions in the United States. The Company’s segments include West, East and Southeast. The Company markets and sells its products through its Website, www.beazer.com; mobile site, m.beazer.com; real estate listing sites, online advertising, including search engine marketing and display advertising, social media, video, brochures, direct marketing and out-of-home advertising, including billboards and signage, as well as other activities.
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